MNI Tanager Energy, Inc.

MGold Resources Inc. (TSX VENTURE:MNI) ("MGold" or the "Corporation") announced
today its intention to complete a non-brokered private placement offering of 10%
unsecured convertible debentures in the principal amount of up to $3,000,000.
The debentures will bear interest at the rate of ten percent (10%) per annum,
payable semi-annually and will mature on the date that is three years from the
closing date. The debentures will be convertible at the holder's option into
common shares of the Corporation at a conversion price of: (i) $0.07 per common
share until the date that is one (1) year from the closing date; (ii) $0.11 per
common share for the period from the date following one (1) year from the
closing date until the date that is two (2) years from the closing date; and
(iii) $0.15 per common share for the period from the date following two (2)
years from the closing date until the date that is three (3) years from the
closing date. The Corporation can force conversion of the debenture into common
shares if the Corporation's common shares trade at or above: (i) $0.12 per
common share at any time until the date that is one (1) year from the closing
date; (ii) $0.16 per Common Share at any time during the period from the date
following one (1) year from the closing date until the date that is two (2)
years from the closing date; and (iii) $0.20 per Common Share at any time during
the period from the date following two (2) years from the closing date until the
date that is three (3) years from the closing date, for a minimum of 20
consecutive trading days (whether or not trading occurs on such days). 


A finder's fee of up to 10% of the gross proceeds of the offering may be paid,
on all or any portion of the funds raised pursuant to this offering, payable in
cash or common shares of the Corporation at a deemed price of $0.05 per share.
The closing of the offering is expected to occur on or about March 29, 2013, and
is subject to regulatory approval, including approval of the TSX Venture
Exchange. For further details on the offering, please contact the Corporation.
All securities issued in connection with the offering will be subject to a hold
period of four months from the date of closing. The net proceeds from the
offering will be used for oil and gas asset acquisitions, general corporate and
working capital purposes.


MGold Resources Inc. is a Lethbridge, Alberta based corporation engaged in the
exploration for minerals. The Corporation's common shares are listed on the TSX
Venture Exchange under the trading symbol "MNI". 


FOR FURTHER INFORMATION PLEASE CONTACT: 
MGold Resources Inc.
John Squarek
President and Chief Executive Officer
403-388-0969
john.squarek@mgold.ca

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